Here is how I saved 20L in 3 years !
A thread π§΅
A thread π§΅
Pay Yourself First
1. Save first (even if its 4-5k)
After ever pay check when i worked i took out 18-20% of strict savings
1. Save first (even if its 4-5k)
After ever pay check when i worked i took out 18-20% of strict savings
2. Create 2 seperate accounts for expenses and savings. I personally have 2 accounts.
Trick here is to make a savings account in HDFC/AXIS where min-bal is 5-10k. It compells you to keep the balance in fear of not paying charges.
Trick here is to make a savings account in HDFC/AXIS where min-bal is 5-10k. It compells you to keep the balance in fear of not paying charges.
3. Create a budget
Took help of my dad initially but later on figured out. At a point when i was doing trading and WFH i saved every penny from salary and made sure i only withdrew 20% of gains that i made from trading (loss months i ignored π)
Took help of my dad initially but later on figured out. At a point when i was doing trading and WFH i saved every penny from salary and made sure i only withdrew 20% of gains that i made from trading (loss months i ignored π)
4. Cash > Cards (can vary from person to person)
I always think twice when i spend in hand cash (no idea why but the feeling of letting the cash go is different)
I dont feel any pain in card transaction π - its just a notification
I always think twice when i spend in hand cash (no idea why but the feeling of letting the cash go is different)
I dont feel any pain in card transaction π - its just a notification
5. Emergency fund
After doing all medicalim and insurance expenses keep 20% as emergency fund in a easily liquid-able instrument.
After doing all medicalim and insurance expenses keep 20% as emergency fund in a easily liquid-able instrument.
6. I dont have a financial advisor so this point gets invalidated.
7. Set realistic goals
Donβt aim to make 1cr the same year if your salary is 20-30k pm (personal experience)
Scale up slowly and plan to raise your bar by 12-15% every year.
Donβt aim to make 1cr the same year if your salary is 20-30k pm (personal experience)
Scale up slowly and plan to raise your bar by 12-15% every year.
8. Please please create an alternative source. One of my alternative source of expenses i would say is from 2020 (where i bought a second hand swift Dzire and rented it out to a doctor in Powai who pays me 16k per month)
9. Invest invest invest
Kuch nai aata toh just invest in index. Keep a time frame of 10years. Youβll do wonders.
Kuch nai aata toh just invest in index. Keep a time frame of 10years. Youβll do wonders.
10. Dont get motivated by 20Y old on twitter making 5L+ per month π₯²
Sabka time aayega
I still dont think maine life mai kuch ukhaada hai. Way to go so i wont post my story on how o struggled.
Sabka time aayega
I still dont think maine life mai kuch ukhaada hai. Way to go so i wont post my story on how o struggled.
To be honest i did not struggle. Middle class family, okish income from single earning person, enough money to hangout with friends every wekeend.
No car, no extra property.
Privileged to be this
No car, no extra property.
Privileged to be this
11. Follow us πβ₯οΈπ«‘
Loading suggestions...